Harris Beach client Spinoso Real Estate Group was recently featured in a national publication after purchasing a 1-million-square-foot town center in the North Bay sub-region of the San Francisco metropolitan area.
Harris Beach attorneys played a key part in that more than $100 million transaction.
Chain Store Age, a leading provider of retail news and analysis for retail headquarters executives across all sectors of the industry, reported that Syracuse-based Spinoso purchased the Solano Town Center in Fairfield, Calif. situated off Interstate 80.
Spinoso plans to transform Solano Town Center into a state-of-the-art mixed-use development that will serve as a centerpiece for the community. Solano Town Center’s tenants include JCPenney, Macy’s, Dick’s Sporting Goods and Dave & Busters.
Spinoso is a long-time client, said Harris Beach attorney Seth T. Hiland. The company specializes in repositioning, leasing and managing enclosed malls.
On the Solano project, Harris Beach’s corporate, commercial real estate, and bankruptcy attorneys were involved in all phases of the acquisition, including due diligence, negotiation of agreements with providers of debt and equity capital, to closing the purchase transaction, and advising on corporate, tax, and other issues.
“It is a great team win,” Hiland said. “I’m really proud of how we came together and worked this through from beginning to end.”
Chain Store Age called Spinoso’s recent record for successful re-tenanting of malls “impressive.” According to Chain Store Age, Spinoso reported executing more than 2.500 leases in 2022 across its 41-property portfolio. That added up to 7.7 million square feet of space—the equivalent of nine super-regional malls’ worth of tenants.
Harris Beach’s commercial real estate and corporate lawyers have deep experience with mall-related and other commercial development projects. Please reach out to Attorney Seth T. Hiland at (607) 330-7721 or email@example.com, or to any member of the Commercial Real Estate Practice Group for more information.